Carrying cash along with you everywhere you go has become an old trend. It is now the word of cashless economy. It is the time for prepaid cards such as debit cards. They are easy to carry and you could carry thousands of bucks with you even without carrying any cash. But this is not the only reason to switch to prepaid cards. You can also check onevanilla balance to know the balance in your account. There are many more reasons, precisely advantages, of carrying a prepaid card with you.
We have listed out some of the advantages of using prepaid cards and why you need to switch to prepaid cards as well.
No Credit Checks
If you are applying for a savings account or a credit card, the bank run credit checks. In these hecks, they check if you have made any mistakes earlier such as neglecting to your bills or bouncing checks. These types of mistakes are generally checked in bank checks. If you are applying for a debit card, then there are no such checks and you can easily get your prepaid debit card.
Direct Deposit
If you have a debit card with you. You no longer have to stand in the bank queue to deposit your money. Direct deposits help you to have instant access to your money. This means that you can instantly send or receive money. Using a debit card, you are enrolled in direct deposit. This is more of a paperless payroll system.
Shop Online
In this world of online activity, you don’t need to get outside to buy a dress. You can sit in yourroom and go through various websites, compare the prices and make the payments. These payments can be made your debit card. This does not require you to carry cash along with you and visit different offline stores.
Theft Protection
Prepaid cards come along with Federal Deposit Investment Corporation protection. If your card is stolen, you need to report fraudulent charges to the prepaid card company. They will then access liability and help you with measures regarding further fraudulent measures. Prepaid cards are thus a much better option than carrying cash around as you might not get your cash back if it is lost, but if your prepaid card goes missing, you can certainly block it and the transactions which will prevent which will save your money.
No Debt
Being in debt is a very stressful thing. This could result in bankruptcy and in some cases, even worse. If you are a spendthrift, then prepaid cards are the one for you. In prepaid cards, you need to load the money onto your card account before you could spend it. Prepaid cards allow you to spend only the money that you have in your card. Thus, there are no worries for you to go into debt. If you have finished your loaded money and you want to spend more, you will need to load it before you could spend.
Conclusion
Most of the people are now shifted to prepaid cards and if you haven’t until now, it high time that you do it too.